Senate bill · S. 1582 (119th Congress)

GENIUS Act

U.S. Senate

Latest action Jul 18, 2025

Sponsor: Bill Hagerty (U.S. Senator for Tennessee, Republican)

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From Congress.gov and official rosters. This record was last updated Jul 30, 2026. About our data

Summary

Guiding and Establishing National Innovation for U.S. Stablecoins Act or the GENIUS Act This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed value). Under the bill, only permitted issuers may issue a payment stablecoin for use by U.S. persons, subject to certain exceptions and safe harbors. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer. Permitted issuers must be regulated by the appropriate federal or state regulator. Permitted issuers may choose federal or state regulation; however, state regulation is limited to those with a stablecoin issuance of $10 billion or less. Permitted issuers must maintain reserves backing the stablecoin on a one-to-one basis using U.S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly the details of their reserves. The bill specifies requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority over federal-qualified issuers. The bill allows foreign issuers of stablecoins to offer, sell, or make available in the United States stablecoins using digital asset service providers, subject to requirements, including a determination by the Department of Treasury that they are subject to comparable foreign regulations. Under the bill, permitted payment stablecoins are not considered securities under securities law. However, permitted issuers are subject to the Bank Secrecy Act for anti-money laundering and related purposes.

Summary from the Congressional Research Service. How we handle summaries

Where it stands

Signed into law.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

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Cosponsors

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Republican5

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Recorded votes

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H.Res. 580Providing for consideration of the bill (H.R. 4016) making appropriations for the Department of Defense for the fiscal year ending September 30, 2026, and for other purposes; providing for consideration of the bill (H.R. 3633) to provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes; providing for consideration of the bill (H.R. 1919) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; providing for consideration of the bill (S. 1582) to provide for the regulation of payment stablecoins, and for other purposes; and waiving a requirement of clause 6(a) of rule XIII with respect to consideration of certain resolutions reported from the Committee on Rules.Procedurally related

As identified by Congress.gov.

Full history

Jul 18, 2025
Enacted
Became Public Law No: 119-27.
Jul 18, 2025
Enacted
Became Public Law No: 119-27.
U.S. Senate
Jul 18, 2025
Signed
Signed by President.
President
Jul 17, 2025
Considered as Unfinished business. (consideration: cr H3449-3450)
Considered as unfinished business. (consideration: CR H3449-3450)
Jul 17, 2025
Debate - the House Proceeded With One Hour of Debate on S. 1582.
DEBATE - The House proceeded with one hour of debate on S. 1582.
U.S. House of Representatives

Show full history (24 earlier events)

Jul 17, 2025
Passed a chamber
Motion to reconsider laid on the table Agreed to without objection.
Jul 17, 2025
Passed a chamber
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 308 - 122 (Roll no. 200).
U.S. House of Representatives
Jul 17, 2025
Sent to the executive
Presented to President.
President
Jul 16, 2025
Passed a chamber
Rule H. Res. 580 passed House.
U.S. House of Representatives
Jul 15, 2025
Reported out of committee
Rules Committee Resolution H. Res. 580 Reported to House. Rule provides for consideration of H.R. 4016, H.R. 3633, H.R. 1919 and S. 1582. The resolution provides for consideration of H.R. 4016 and H.R. 3633 under a structured rule, and H.R. 1919 and S. 1582 under a closed rule, with one hour of general debate on each bill. The resolution provides for a motion to recommit on H.R. 4016, H.R. 3633, and H.R. 1919, and a motion to commit on S. 1582.
U.S. House of Representatives
Jun 23, 2025
Held at the desk.
Jun 23, 2025
Message on Senate Action Sent to the House.
Message on Senate action sent to the House.
U.S. Senate
Jun 23, 2025
Sent to the executive
Received in the House.
U.S. House of Representatives
Jun 17, 2025
Considered by Senate. (consideration: cr S3418-3432)
Considered by Senate. (consideration: CR S3418-3432)
U.S. Senate
Jun 17, 2025
Passed a chamber
Passed Senate with an amendment by Yea-Nay Vote. 68 - 30. Record Vote Number: 318. (text: CR S3419-3432)
U.S. Senate
Jun 12, 2025
Cloture on the Bill, as Amended Invoked in Senate by Yea-nay Vote. 67 - 27. Record Vote Number: 312.
Cloture on the bill, as amended invoked in Senate by Yea-Nay Vote. 67 - 27. Record Vote Number: 312.
U.S. Senate
Jun 11, 2025
Motion by Senator Thune to Commit to Senate Committee on Banking, Housing, and Urban Affairs With Instructions to Report Back Forthwith With the Following Amendment (sa 2312) Fell When Cloture Was Invoked on Amendment sa 2307 in Senate.
Motion by Senator Thune to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with the following amendment (SA 2312) fell when cloture was invoked on amendment SA 2307 in Senate.
U.S. Senate
Jun 9, 2025
Motion by Senator Thune to Commit to Senate Committee on Banking, Housing, and Urban Affairs With Instructions to Report Back Forthwith With the Following Amendment (sa 2312) Made in Senate.
Motion by Senator Thune to commit to Senate Committee on Banking, Housing, and Urban Affairs with instructions to report back forthwith with the following amendment (SA 2312) made in Senate.
U.S. Senate
Jun 2, 2025
Considered by Senate. (consideration: cr S3155-3156)
Considered by Senate. (consideration: CR S3155-3156)
U.S. Senate
May 21, 2025
Measure Laid Before Senate by motion. (consideration: cr S3025)
Measure laid before Senate by motion. (consideration: CR S3025)
U.S. Senate
May 21, 2025
Passed a chamber
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 69 - 31. Record Vote Number: 263.
U.S. Senate
May 20, 2025
Motion to Proceed to Measure Considered in Senate. (cr S2983)
Motion to proceed to measure considered in Senate. (CR S2983)
U.S. Senate
May 19, 2025
Motion by Senator Thune to Reconsider the Vote by Which Cloture on the Motion to Proceed to the Measure Was Not Invoked (record Vote No. 240) Rendered Moot in Senate.
Motion by Senator Thune to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 240) rendered moot in Senate.
U.S. Senate
May 15, 2025
Second Cloture Motion on the Motion to Proceed Presented in Senate. (cr S2947)
Second cloture motion on the motion to proceed presented in Senate. (CR S2947)
U.S. Senate
May 12, 2025
Motion to Proceed to Consideration of Measure Made in Senate. (cr S2847)
Motion to proceed to consideration of measure made in Senate. (CR S2847)
U.S. Senate
May 8, 2025
Motion by Senator Thune to Reconsider the Vote by Which Cloture on the Motion to Proceed to the Measure Was Not Invoked (record Vote No. 240) Made in Senate.
Motion by Senator Thune to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 240) made in Senate.
U.S. Senate
May 6, 2025
Cloture Motion on the Motion to Proceed to the Measure Presented in Senate. (cr S2772)
Cloture motion on the motion to proceed to the measure presented in Senate. (CR S2772)
U.S. Senate
May 5, 2025
Read the Second time. Placed on Senate Legislative Calendar Under General Orders. Calendar No. 66.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 66.
U.S. Senate
May 1, 2025
Introduced
Introduced in U.S. Senate
U.S. Senate

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